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DENVER - Energy Fuels Inc. (NYSE American:UUUU) (TSX:EFR) mined 638,700 pounds of uranium from its Pinyon Plain mine in Arizona during the second quarter of 2025, according to a company press release issued Tuesday. The company, currently valued at $358 million with shares trading at $12.12, has maintained profitability over the last twelve months with revenues reaching $52.89 million.
The mining operation yielded 230,661 pounds in June alone, with uranium grades averaging 3.51% U3O8 for the month and 2.23% for the quarter.
The company reported selling 50,000 pounds of uranium on the spot market during Q2 at an average price of $77.00 per pound. Energy Fuels plans to sell 140,000 pounds in Q3 and 160,000 pounds in Q4 under existing utility contracts, with expected 2026 sales between 620,000 and 880,000 pounds.
Mark S. Chalmers, President and CEO of Energy Fuels, described Pinyon Plain as "a truly exceptional U.S. uranium mine" and stated it will be "the highest-grade uranium deposit to be mined in the U.S. over the past 30 years."
The company is currently mining approximately 25% of the vertical extent of the prospective ore zone at the site, according to the statement.
Energy Fuels operates the White Mesa Mill in Utah, which it describes as the only fully licensed and operating conventional uranium processing facility in the United States. The company also has projects in Kenya, Madagascar, Brazil, and Australia.
In other recent news, Energy Fuels Inc. has announced advancements in its technology to produce six critical rare earth oxides at scale. The company plans to expand the capabilities of its White Mesa Mill in Utah, which currently processes monazite ore concentrates into neodymium-praseodymium oxide, to include additional oxides such as samarium, gadolinium, dysprosium, terbium, lutetium, and yttrium. This development aligns with President Trump’s recent executive order initiating a Section 232 investigation into the import of processed critical minerals, aiming to strengthen domestic production. Energy Fuels has expressed confidence in achieving this production expansion within twelve months, contingent upon adequate support from the U.S. government. The company has been developing its rare earth element production capabilities since 2020 and began commercial-scale separation of neodymium-praseodymium in 2024. Energy Fuels has secured supplies of monazite from its own mines and from The Chemours Company in Florida and Georgia, with plans to process up to 60,000 tonnes annually in the future. This positions Energy Fuels as a significant player in the U.S. market for rare earth elements. The outcome of their production goals and the impact of the Section 232 investigation will depend on various factors, including market conditions and government support.
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